Marathon Digital (NASDAQ:MARA) Stock Price Down 8.4% – Should You Sell?

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares fell 8.4% during trading on Tuesday . The stock traded as low as $8.61 and last traded at $8.66. 51,047,416 shares were traded during trading, an increase of 8% from the average session volume of 47,370,121 shares. The stock had previously closed at $9.45.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday. Morgan Stanley assumed coverage on shares of Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price on the stock. Finally, Rosenblatt Securities cut their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

Marathon Digital Stock Performance

The firm has a market capitalization of $3.28 billion, a P/E ratio of -2.19 and a beta of 5.51. The company has a 50-day simple moving average of $9.31 and a two-hundred day simple moving average of $13.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The business had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative return on equity of 17.88% and a negative net margin of 144.58%.Marathon Digital’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares in the company, valued at approximately $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the transaction, the chief executive officer directly owned 3,517,566 shares in the company, valued at approximately $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 133,247 shares of company stock worth $1,325,255. Insiders own 0.80% of the company’s stock.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management increased its stake in shares of Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares in the last quarter. Estabrook Capital Management purchased a new stake in Marathon Digital in the 2nd quarter valued at about $31,000. Bessemer Group Inc. boosted its position in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Marathon Digital during the 4th quarter worth approximately $36,000. Finally, Hantz Financial Services Inc. raised its position in Marathon Digital by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.